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: Fiat increases stake in Chrysler to 25%



ausrutherford
01-10-2011, 03:30 PM
Fiat increases stake in Chrysler to 25%
by Noah Joseph
Jan 10th 2011
Autoblog.com (http://www.autoblog.com/2011/01/10/fiat-increases-stake-in-chrysler-to-25/)

Fiat is seriously commited to rebuilding Chrysler, and to that end it's increased its stake in the Michigan-based automaker by an additional five percent.

The reshuffled ownership breakdown still leaves the United Auto Workers as the largest shareholder at 63.5%, with Fiat's stake now up to 25%, the U.S. Treasury Department retaining 9.2% and the Canadian government 2.3%.

The increased stake came with government approval as Chrysler meets certain performance parameters, in this case the production of the Fully Integrated Robotized Engine (FIRE) at its plant in Dundee, Michigan.

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